If you have no prior experience with the online marketplace, launching an Etsy store might appear like a very complex prospect. However, launching an Etsy store is actually relatively simple and will offer an ideal home for your digital goods either as your main online storefront or alongside an already existing site. Etsy is a great online community where entrepreneurs sell and buy unique handmade and vintage goods created by their own talented hands. Etsy has grown tremendously over the past few years and now serves a global community of users looking for new and different goods. By opening an Etsy store, you will be able to tap into this massive resource of potential buyers without having to spend the time or money to create your own market.
The first step on how to start an Etsy shop is to register a domain name. A domain name will help to brand your website and will also serve as the anchor text for any graphics that you use on your website. When you register a domain name, you will receive a free web hosting package from a hosting provider. This free web hosting package typically comes with a set of tools including a default HTML template. You may also choose to purchase a domain name that includes additional fees, such as a yearly plan or a monthly plan. After you have registered your domain, you will be ready to build your website!
Next, you will need to choose a payment method. Etsy allows you to select PayPal as a payment method, however, there are fees associated with using this service. If you decide to use PayPal, you will want to become a registered member on the Etsy website before proceeding with payment options.
Depending on your chosen payment method, you will want to set up a payment gateway. A payment gateway is a system by which you receive payments from your buyers, and your sellers are able to process these payments without any delays. Etsy uses a form called a CART deposit to track your sales and fees. CART deposits are used in two different ways – to pay sellers, and to withdraw payment from bank accounts.
Next, it is important to determine your prices. One of the most important things when determining how to start an Etsy shop and create your own market place is to determine how much to charge for your goods. Different vendors have different rates for their products, and these rates can change each month. You may wish to contact the major online retailers to obtain the rates they charge for your type of product. Once you determine the rate that your product is worth, you can then follow the steps above for setting up your own Etsy shop.
Your next step is to decide what type of listing fees you will charge for each item you list for sale on your shop. Etsy charges a fee per listing, regardless of whether or not you sell a product. If you list a product with a lower price, you will likely be charged a higher listing fee than if you list your items at a higher price. The payment processing fee you pay will also affect how much you are charged for listing fees.
Advertising fees can vary greatly among vendors. Some charge a fixed rate per month, while others base this fee on the percentage of your overall sales. Etsy buyers and sellers must agree on a payment method before listing their shop on the site. You should always contact a potential vendor to find out the fees you will be charged, so that you have a clear understanding of the costs you will incur as a business owner.
After you have established your account and have paid the appropriate fees, you are ready to list your first product. Etsy offers sellers two options for listing their shops: the standard fee-based listing or a fee-per-listing listing. The difference between these fees is the listing fee. A seller listed on the standard fee-based plan will pay twenty cents for each listing. A seller listed on a per-listing fee plan pays ten cents for each listing. Keep in mind that sellers on the standard fee-based plan are limited to only selling one product per month; those on the per-listing plan are unlimited.
Negou Seid is a Software Engineer, Business owner and loves writing useful blogs.